Nothing spins off CMF as independent brand with India as global base, signs $100 million JV with Optiemus

Smartphone maker Nothing has spun off its affordable sub-brand CMF into an independent subsidiary, making India its global base for operations, research and manufacturing, the company said on Thursday. Along with this move, it has also announced a USD 100 million joint venture with Indian electronics manufacturer Optiemus Infracom Ltd.

According to the official statement, this partnership is expected to create over 1,800 jobs in India over the next three years.

With this collaboration, India will not only serve as the headquarters for CMF’s manufacturing, but will also play a central role in transforming the country into a global hub for smartphone production and exports.

Nothing has already invested over USD 200 million in India – reflecting the country’s importance in its growth strategy.

Launched in 2023, CMF has quickly made its mark in the budget smartphone and wearables segment. These phones are priced under USD 200 i.e, Rs 17,000, which is a good thing for India, where more than 42 per cent of all phones sold in the second quarter of 2025 will be in the $100-200 (i.e., Rs 8,000-17,000) price range, according to IDC data.

Carl Pei, CEO of Nothing, said this joint venture is a significant milestone in making CMF India’s first truly global smartphone brand.

“India will play a key role in shaping the future of the global smartphone industry. With our end-to-end capabilities, we are uniquely positioned to build CMF into a global brand, and our joint venture with Optiemus is a key step in that journey,” he said.

Optiemus, which has deep expertise in electronics manufacturing, will leverage its engineering and production capabilities in this partnership. Optiemus Executive Chairman Ashok Gupta said that this collaboration reflects the growing strength of the Indian ecosystem.

“Global brands choosing India to build is a testament to the vision of Make in India and Atmanirbhar Bharat. This partnership goes beyond high-tech manufacturing – it will empower us to create export-ready products designed in India, showcasing the innovation and talent of our people to the world,” he said.